Subsequent to our previous stock exchange announcements on 8 July 2021 and 30
September 2021, regarding the combination of OHT ASA (the "Company") and the
offshore fixed wind business of Subsea 7 (the "Transaction"), we are pleased to
announce that the Transaction has been completed today.

Effective from closing of the Transaction: 

o OHT ASA is renamed Seaway 7 ASA
o Subsea 7 Blue Space Limited, a wholly-owned indirect subsidiary of Subsea 7
S.A., has contributed its ownership of 100% of the shares in Seaway Offshore
Cables GmbH, SHL Holding NL B.V., Seaway Aimery AS, Seaway Moxie AS and Seaway
Phoenix AS to the Company, in return for an issuance of 314,325,054 new shares
at an issue price of NOK 19.50 per share 
o A new board of Seaway 7 ASA has been elected, consisting of Rune Magnus
Lundetræ (Chairperson), Kristian Siem, John Evans, Nathalie Louys and Monica
Bjørkmann
o Stuart Fitzgerald has been nominated as the new Chief Executive Officer and
the new Executive Management Team of the Seaway 7 Group ("Seaway 7") will
consist of the persons announced on 2 September 2021 
o Ernst & Young AS will replace PricewaterhouseCoopers AS as Seaway 7's external
auditor

The Company expects the new shares to be registered with the Norwegian Register
of Business Enterprises on 4 October 2021, following which the share capital of
the Company will be NOK 43,656,257.50 divided into 436,562,575 shares, each with
a nominal value of NOK 0.10. 

The Company's shares will continue to be traded on Euronext Growth. The
Company's name and ticker symbol are in the process of being changed to Seaway 7
ASA and SEAW7 respectively. The name and ticker are expected to change prior to
start of trading on 5 October 2021. 

The market will be informed when the new shares have been registered with the
Norwegian Register of Business Enterprises and the Company will confirm when the
first day of trading with the new name and ticker will take place.

Stuart Fitzgerald, incoming CEO of Seaway 7, commented "We are very pleased to
reach this milestone and begin operations as the newly combined Seaway 7 Group.
The industrial logic of the combination, which strengthens and broadens our
offering, whilst adding differentiated assets to a market leading capability and
track record, has been well understood by our clients, investors and employees.
We look forward to positioning Seaway 7 as one of the market leaders in the
delivery of bottom-fixed offshore wind farm solutions, contributing to an
efficient and sustainable energy supply for the future." 

For further information, please contact:

Mark Hodgkinson, Chief Financial Officer
Tel: +44 (0) 7788 316 501
E-mail: ir@oht.no